It’s about time for “open season”.  I’m not talking about the hunting season - instead, I’m referring to the period of open-enrollment for your health plans.

The majority of employers will be requiring their workers to contribute even more to their health insurance costs as 2009 predicts healthcare costs to increase anywhere from 6% to 10%.  Some employees may share the price increase with higher premiums, while others will face higher deductibles, co-payments and co-insurance options.

Don’t be the person who finds out about changes to your healthcare coverage when you receive a bill in the mail that you weren’t expecting for charges that weren’t covered by your health insurance (but that you thought would be covered).

Avoid the surprise by reviewing the 2009 open-enrollment materials for changes to the plan offerings and terms.  In particular, look for:

  • New plans: In an effort to keep health insurance affordable, companies roll out new types of health plans.  Weight the pros and cons of each carefully before selecting a new type of plan.  Do you want the new high-deductible plan that requires more of yoru day to day expenses coming out of pocket; or do you want a limited-benefit plan to cover routine office visits and immunizations but limit more expensive coverage?
  • Look at what you’ve been paying:  go over your healthcare costs for the previous year or two.  Will your health care needs be about the same or different for 2009?  (Are you planning a baby or surgery?) Make your choices based on expectations for health care needs.
  • Preferred doctors: an HMO requires that you choose providers from a list of participating providers.  Is your preferred doctor on the list for your chosen health care plan? Give them a call to find out if they plan to participate in that particular health care plan in 2009.
  • Wellness rewards:  some employer health plans offer low or even no-cost coverage for generic drugs that control chronic conditions (like diabetes or hypertension).  Preventative screenings are often covered 100% to encourage you to take preventative measures for your health.

Making educated decisions regarding which healthcare plan is best for you (and your family) is the best way to reduce your healthcare costs for the new year.  Be prepared to compare and ask questions that help you choose the best plan for your unique situation.